The appendices and specification attached to this contract and specified by reference show complete details of the work to be carried out under this contract. The said appendices, schedule, exhibits and designs shall constitute an integral part of the complete contract

To all specialized companies in this field and wish to participate in this tender who are technically capable to executing this tender, should send an approved reprehensive to collect the tender package

NOTE: That the date for collection the tender package commences on Sunday 04/02/2018 until Sunday11/02/2018from (9:30)am TO (12:30)pm.

The collection of the package is from tender Committee office fourth floor room (444) at the company head office in Tripoli. The package will be issued according to the following criteria:

Official letter addressed to HOO company&rsquo;s

Chairman of Tender sub Committee confirming the desire to participate in this Tender.

Representative of the interested company shall be authorized to collect the tender package and shall present an official document stamped with a company seal.

Provide a copy of the following legal :

Valid license compatible with the required work.

Commercial Registration

Certificate of Registration in chamber of commerce.

Article of association.

Payment of tax certificate

4. In case of no queries / inquiries are received from the bidder prior to bid submittal , this will be deemed mean that the bidder had studied the scope / specification bid package , found it clear from both technical & commercial aspects , therefore in case of any shortages and / or change of specification from HOO original scope/ specification bid package ,shall result in disqualifying the bidder&rsquo;s offer, and shall be excluded from further considerations with no obligation to HOO to request any clarification from the bidder.

5. Paying value of (300 D.L)three hundred Libyan dinars,As the price to buy the tender specifications brochurecash only which is non-refundable, issued by a Libyan bank in favor of HOO.

6. Bid bond with a value (4000L.D)four thousand Libyan diner submitted with your offer in the form of a certified check in envelope&rdquo;D&rdquo;, which shall be refunded in the event of failure to secure the tender. The check shall be issued by a Libyan bank in favour of HOO.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

Oil & Gas News

SINGAPORE (Reuters) - Oil prices rose more than 1 percent on Thursday to extend gains from the previous session, lifted by a weak dollar and Saudi comments that it would rather see an undersupplied market than end a deal with OPEC and Russia to withhold production.

Reuters

U.S. West Texas Intermediate (WTI) crude futures were up 84 cents, or 1.4 percent, from their last settlement at $61.44 a barrel at 0604 GMT, adding to a 2.4-percent gain from the day before.

More fundamentally, oil markets got a push from comments by Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), voicing support for output cuts backed by OPEC and other producers including Russia since 2017 in an effort to tighten the market and prop up prices.

“If we have to err on over-balancing the market a little bit, so be it,” Saudi Energy Minister Khalid al-Falih said on Wednesday. “I think we are going to be sticking with our policy (to withhold production) throughout 2018.”

Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA in Singapore, said “the Saudi signal is reasonably convincing, suggesting OPEC and their partners are committed to maintaining an absolute floor on oil prices”.

Threatening to undermine the OPEC-led effort to tighten markets is soaring production in the United States, which is not participating in the pact to cut.

U.S. crude oil production rose to a fresh record of 10.27 million barrels per day (bpd), more than top exporter Saudi Arabia pumps and within reach of No.1 producer Russia.

Consequently, U.S. crude inventories rose by 1.8 million barrels in the week to Feb. 9, to 422.1 million barrels, the Energy Information Administration said on Wednesday.

“Although we remain positive on crude oil prices until year-end, an interim correction into 1Q18 cannot be ruled out,” said Barnabas Gan, economist at OCBC Bank in Singapore.

Reporting by Henning GloysteinEditing by Richard Pullin and Joseph Radford

Business News

Harouge Oil Operations, a joint operating company on behalf of National Oil Operation, Libya and Suncor Oil (North Africa) GmbH, announces an invitation to participate in tender No (3/2018) for Companies which have the required Legal and valid License documents.

NOC

Summary of the Work:

Supply of (4) no. shelters for Amal warehouse as following:

2no.shelters for chemical material used at field.

2no.shelters for storing drilling material.

The appendices and specification attached to this contract and specified by reference show complete details of the work to be carried out under this contract. The said appendices,schedule,exhibits and designs shall constitute an integral part of the complete contract.

To all National Companies that are specialized in this field, and foreign companies which are specialized and registered in Libya. And wish to participate in this tenders who are technically capable to executing this tender, should send an approved representative to collect the tender package.

Note that the date for collection of the tender package commences on Monday 05/03/2018 until Wednesday 07/03/2018 from (9:30) am to (11:30) am.

The Collection of the package is from Tender Committee office, 6th floor at the company head office in Tripoli. The package will be issued according to the following criteria:

All companies that wish to participate in this tender should send Official letter before the date of collecting the ITT package addressed to HOO Company’s Chairman of Tender Committee confirming the desire to participate in this Tender, via email to:tender.sec-committee@harouge.com

Fill the attached copy of consultant information form and make sure that your contact details are correct and current and send it with the participation letter.

Provide a copy of the following legal documents :

Valid license compatible with the required work.

Commercial Registration

Certificate of Registration in Chamber of Commerce.

Payment of tax certificate

Article of association.

Previous experience in similar work.

Paying value of (500LD) (five hundred Libyan dinars) cash or by a certified check which is nonrefundable, issued by a Libyan bank in favor of Harouge Oil Operations.

In case of no queries / inquiries are received from the bidder prior to bid submittal , this will be deemed mean that the bidder had studied the scope / specifications bid package, found it clear from both technical & commercial aspects, therefore in case of any shortages and/or change of specifications from HOO original scope/specifications bid package, shall result in disqualifying the bidder’s offer, and shall be excluded from further considerations with no obligation to HOO to request any clarification from the bidder.

Bid bond with a value of (6,000LD) (six thousands Libyan Dinars) submitted with your offer in the form of a certified check in a separate envelope, which shall be refunded in the event of failure to secure the tender. The check shall be issued by a Libyan bank in favor of Harouge Oil Operations or by bank guarantee letter available for (6) months from the date of submitting the offer, and shall be issued by one of the worldwide first class banks in favor of Harouge Oil Operations.

Notes:Any company or contractor interested in participating in this tender is responsible for all costs involved.

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM
Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM

3 days ago

Business News

Harouge Oil Operations, a joint operating company on behalf of National Oil Operation, Libya and Suncor Oil (North Africa) GmbH, announces an invitation to participate in tender No (2/2018) for Companies which have the required Legal and valid License documents.

NOC

Brief Description Of The Project:

1.Location of the Work

&middot;RAS LANUF

2.General Description of the Work

&middot; CONTRACTOR is required to perform all assigned work, inspection, repair and maintenance and return the tank to service in a safe, according to the API 575 and API 653.

Work Summary:

The scope of work is to fully detail all requirements for tank repair, inspection, engineering design, procurement, fabrication, erection and testing works as instructed by COMPANY and in accordance with the project drawings and specifications attached with the tender for the repair and PM of tank no. 5,comprising a 500,000 US bbl floating roof tank.

To all National Companies that are specialized in this field, and foreign companies which are specialized and registered in Libya, and wish to participate in this tenders who are technically capable to executing this tender, should send an approved representative to collect the tender package.

Note that the date for collection of the tender package commences on Monday 05/03/2018 until Wednesday 07/03/2018 from (9:30) am to (11:30)am.

The Collection of the package is from Tender Committee office, 6th floor at the company head office in Tripoli. The package will be issued according to the following criteria:

1. Send Official letter before the date of collecting the ITT package addressed to HOO Company&rsquo;s Chairman of Tender Committee confirming the desire to participate in this Tender, via email to

2. Fill the attached copy of consultant information form and make sure that your contact details are correct and current and send it with the participation letter.

3. Provide a copy of the following legal documents :

&middot;Valid license compatible with the required work.

&middot;Commercial Registration

&middot;Certificate of Registration in Chamber of Commerce.

&middot;Payment of tax certificate

&middot;Article of association.

&middot; Previous experience in similar work.

4. Paying value of (2500 LD) Two Thousand and Five Hundred Libyan dinars cash or by a certified check which is nonrefundable, issued by a Libyan bank in favor of Harouge Oil Operations.

5. In case of no queries / inquiries are received from the bidder prior to bid submittal , this will be deemed mean that the bidder had studied the scope / specifications bid package, found it clear from both technical & commercial aspects, therefore in case of any shortages and/or change of specifications from HOO original scope/specifications bid package, shall result in disqualifying the bidder&rsquo;s offer, and shall be excluded from further considerations with no obligation to HOO to request any clarification from the bidder.

6. Bid bond with a value of (30,000) Thirty Thousand Libyan Dinars submitted with your offer in the form of a certified check in a separate envelope, which shall be refunded in the event of failure to secure the tender. The check shall be issued by a Libyan bank in favor of Harouge Oil Operations or by bank guarantee letter available for (6) months from the date of submitting the offer, and shall be issued by one of the worldwide first class banks in favor of Harouge Oil Operations.

Notes:Any company or contractor interested in participating in this tender is responsible for all costs involved.

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

Oil & Gas News

SINGAPORE (Reuters) - Oil prices rose by 1 percent on Monday, recovering at least some of last week’s steep losses as Asian stock markets found their footing after days of chaotic trading.

Reuters

Looming over oil markets, however, was rising production in the United States which is undermining efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to tighten markets and prop up prices.

Brent crude futures were at $63.42 per barrel at 0250 GMT, up 63 cents, or 1 percent, from the previous close.

U.S. West Texas Intermediate (WTI) crude futures were at $59.83 a barrel. That was up 63 cents, or 1.1 percent, from their last settlement.

The firmer prices came after crude registered its biggest loss in two years last week as stock markets slumped.

But with U.S. stock markets rebounding on Friday and Asian markets seemingly steadying on Monday, analysts said crude was also supported.

McKenna said markets on Monday were quiet as “the incentive for traders in Australia or Asia to do anything without the lead of the U.S. is likely to be lacking,” referring to recent U.S. stock market volatility.

It is also a holiday in Japan.

But oil markets still face soaring U.S. oil production, which has risen above 10 million barrels per day (bpd), overtaking top exporter Saudi Arabia and coming within reach of top producer Russia.

There is a strong indication that output will rise further.

U.S. energy companies added 26 oil rigs looking for new production this week, boosting the count to 791, the highest since April 2015, General Electric’s Hughes energy services said on Friday.

The soaring U.S. output is undermining efforts led by OPEC and Russia to withhold production in order to push up prices.

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

Oil & Gas News

Total production is close to 1 million barrels per day, according to one set of data, which would be a five-year high.

UPI

Feb. 8 (UPI) -- Total oil production from Libya in January was close to 1 million barrels per day on average for its highest level in more than five years, industry data show.

Libyan oil production had faltered in the years since the downfall of the regime of Moammar Gadhafi in 2011, nearly grinding to a halt as a result of simmering civil conflict. Economists at the Organization of Petroleum Exporting Countries, of which Libya is a member, reported production last year averaged 817,000 barrels per day, far less than its pre-Gadhafi levels of around 1.5 million bpd.

Market fundamentals and data reporting group Genscape said its monitoring found Libya produced about 1.08 million bpd in January, the country's highest level since July 2013.

"Based on radiant heat signatures, the fields appeared to operate relatively consistently, which has historically been a struggle for Libya," the group reported.

German energy company Wintershall last month was able to restart production from the C96 license area, part of the As-Sarah field, which the government said was closed illegally. Production was closed in November following pressure from a municipality that complained the national oil company wasn't meeting local demands.

Genscape's estimate from Libya is slightly less than that reported by commodity pricing group S&P Global Platts, which put the level at an average of 980,000 bpd. Nevertheless, that would still represent a recent high and a stark improvement from the average of 390,000 bpd reported by OPEC for Libya in 2016.

Platts reported that Libya is still struggling with national security issues, which earned it an exemption last year from OPEC's effort to balance an oversupplied market with coordinated production cuts. Combined with Nigeria, also exempt last year and producing around 1.9 million bpd in January, the two countries agreed this year to a cap of 2.8 million bpd.

In January, the head of Libya's National Oil Corp., Mustafa Sanalla, said production was linked to the nation's recovery.

"NOC is the foundation from which Libya can be regenerated," he said in a statement. "And if NOC is lost, Libya will take a long time to be put back together."

We are direct providers of fresh cut bg, sblc, mtn, bonds and cds which we have specifically for lease. we do not have any broker chain in this offer or get involved in chauffer driven offers. you are at liberty to engage our leased instruments into trade programs as well as in other project(s) such as aviation, agriculture, petroleum, telecommunication, construction of dams, bridges and any other project(s) etc you can use these bank instruments for private placement platforms, commercial loan, business loans, credit lines and much more.

Brent crude futures were at $65.39 per barrel at 0525 GMT, down 12 cents, or 0.2 percent, from the previous close. Brent slipped to its lowest for the year at $65.12 a barrel early in the session.

U.S. West Texas Intermediate (WTI) crude futures were at $61.60 a barrel. That was down 19 cents, or 0.3 percent, from the last settlement, though still some way off its $60.10 2018 low on Jan. 2.

“Brent has now turned negative for 2018 while WTI isn’t looking great either,” said Fawad Razaqzada, market analyst at futures brokerage Forex.com.

The dips follow bigger falls on Wednesday, when crude touched one-month lows and erased much of 2018’s early gains.

Some support on Thursday came from the second outage in as many months on the 450,000 barrels per day (bpd) Forties pipeline network, Britain’s biggest, which supplies much of the crude underpinning Brent futures, as well as record Chinese January imports of 9.57 million bpd.

But the biggest market driver was U.S. production. What’s long been expected is now official: U.S. crude oil output averaged above 10 million bpd for the first time since the early 1970s last week, reaching 10.25 million bpd. [
RUNAWAY PRODUCTION

Until the early 2000s, the United States was oil starved, importing a peak of 12 million bpd.

But in one of the steepest rises of any oil producer in modern history, U.S. output has surged by more than 20 percent since mid-2016, undermining OPEC’s and Russia’s efforts to tighten the market and prop up prices by withholding production.

At 10.25 million bpd, U.S. output is now higher than the previous 10.044 million bpd record from back in 1970.

It’s above that of top exporter Saudi Arabia’s and within reach of Russia‘s.

“What surprised the most was the large spike in oil production to 10.25 million barrels per day which was significantly higher than 9.92 million from the previous week,” Razaqzada said.

“Clearly, the data points to an imbalanced market and oil prices have responded by turning sharply lower,” he added.

Weighing further on prices, U.S. commercial crude stocks rose by 1.9 million barrels in the week to Feb. 2, to 420.25 million barrels.

The U.S. Energy Information Administration (EIA) this week also upped its 2018 average output forecast to 10.59 million bpd, up by a whopping 320,000 bpd from its last forecast just a week earlier.

Business News

(Lana) Governor of Central Bank of
Libya, Al sadiq Al Kabier opened Saturday a workshop on economic and
financial reform in Libya.

LANA - Libya news agency

In his opening address, the governor said
Central Bank of Libya in partnership with the Presidency Council laid
down a package of reforms and policies to remedy deformities of the
Libyan economy. He also noted the remarkable increase of the state
revenues for 2017, exceeding 13 billion dollars.

In the context of the workshop, he said the Central Bank relies
on Libyan university professors and youth for partnership for the
success of salvaging the economy and addressing the impact of the
financial crisis which swept the country during the past era,
stressing that the bank is pressing ahead with the economic reform.

The Governor called on all Libyan institutions to work together
to end obstacles before the economic and financial reform which has
become a pressing necessity and foremost the end of political
divisions and their consequent security breaches and other negative
consequences.

He expressed hope that this year would witness genuine
launch of economic and financial reforms and remarkable improvement
to alleviate the brunt of the crisis.

The workshop included three sessions during which scholarly
papers were presented and expected to end up with recommendations to
be presented to the relevant authorities concerned with the reform
programme.

The workshop was attended by several members of the House of
Representatives, High State Council, Presidency Council ministers,
dean of Libyan faculties and universities and their teaching staff.

Oil & Gas News

TOKYO (Reuters) - Oil rose for a third day on Friday after a survey showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.

Reuters

Brent futures, the global benchmark, were up 24 cents, or 0.3 percent, at $69.89 a barrel by 0635 GMT.

U.S. West Texas Intermediate (WTI) crude was up 33 cents, or 0.5 percent, at $66.13 a barrel.

Production by the Organization of the Petroleum Exporting Countries (OPEC) rose in January from an eight-month low as higher output from Nigeria and Saudi Arabia offset a further decline in Venezuela and strong compliance with a supply reduction pact, a Reuters survey showed. [OPEC/O]

OPEC pumped 32.4 million barrels per day (bpd) in January, the survey found, up 100,000 bpd from December. Last month’s total was revised down by 110,000 bpd to the lowest since April 2017.

Even so, adherence by producers included in the deal to curb supply rose to 138 percent from 137 percent in December, the survey found, suggesting commitment is not wavering even as oil prices hit their highest level since 2014.

“It underscores the commitment of the cartel, and their Russian partners, to keep a floor under the oil price,” said Greg McKenna, chief market strategist at futures brokerage AxiTrader.

That is drawing investors’ focus away from the rise in U.S. production.

U.S. crude output surpassed 10 million bpd in November for the first time since 1970, the Energy Information Administration said this week.

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

SIRTE OIL COMPANY for Production, Manufacturing of Oil & Gas announces bidding of the following project:

NOC

Project Title &Description

Project No.

T.D. Fees

(Libyan Dinars)

Last day for bid submission

Before

12:00 PM

1

Roof Replacement & Renovation of Facilities Maintenance Workshop:

The work shall include; Complete replacement of roof and sliding sheeting, Repair of tool room & wash room, and Modify conference room. (As per details mentioned in the scope of work).

MP-1365

2,000

Sunday, 25th March,

2018

We urge specialized companiesthat consider themselves qualified to execute the above-mentioned project, and wish to participate, to contact Secretariat of S.O.C Main Tenders Committee, at Marsa El-Brega to purchase tender document (s) at non-refundable indicated fees against the project, payment by Cash or certified cheque. The following documents are required:-

A copy of the Company&rsquo;s Commercial Register (Valid).

A copy of a valid License to Run Business.

A copy of a valid certificate proving payment of tax.

Financial position of the Company for the last three years.

A Copy of the Authorization given by the Ministry for Economy and Trade to carry out Business in Libya (for Foreign Companies Only).

A Prove of Ability & Experience to carry out the required work.

-Tender documents can be purchased weekdays (Sunday-Thursday) during working hours, (10:00 to 12:00 Libya Time) as from:

Sunday January 28th, 2018 until Sunday February 11th, 2018.

For any information or clarifications, please contact the following telephone numbers:

-A certified cheque (Bid Bond) issued by a known bank operating in Libya, worth (0.5%) of bid price must be also submitted in a separate sealed envelope. Bid offers not containing certified cheqes will be rejected. Cheques will be cancelled and returned to unsuccessful bidders, after award of the bid.

-Winner of the bid must submit a certified cheque worth 10% of contract price agreed to, as a final insurance, within 10 days of notification of contract award and will be returned to the contractor after one year of completing the project. The initial (0.5%) cheque will be cancelled and returned to bidder.

-Bids MUST be delivered to the office of the Secretary of S.O.C Main Tenders Committee, at Marsa El-Brega.

-Companies interested in purchasing tender documents should present a letter authorizing their representative by name, to receive the document on behalf of the company, and copy of representative's passport including a copy of the entry stamp should be sent to SOC Main Tenders Committee 72hours before arrival to Brega, in order to issue necessary Oilfield passes.

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

Business News

After pressure from the National Oil Corporation and the Office of Public Prosecutor, the municipality of Jikharra has decided to reopen oil fields in its area shut at the beginning of November 2017.

NOC

The unauthorized shut-down by operator Wintershall of the Sara fields in its NC-96 concession resulted in the loss of 4,400,000 barrels of production at a cost to the Libyan economy of $281,479,385.

The suspension of production by the company was done without the approval of the NOC as stipulated in the interim operating agreement between the parties.

“The restart is a humiliating setback for the parallel structure and for its campaign to shut down Libyan production in the Wahat region and beyond,” said NOC chairman Mustafa Sanalla.

“The Public Prosecutor will continue to investigate this crime. The perpetrators and others considering using the tactic should remember this is a very serious offence for which there is no statute of limitations."

We can deliver Financial service/instruments(BG/SBLC/MTN/DLC/LC) at affordable price to our customers in other to derive maximum utility. We understand that finding the right company to provide financial instrument is not easy. We are certified financial company that delivers banking instrument for lease which we adhere to our terms and condition. Over 96% of our clients are satisfied with our work whether it is business or financial service.

Once transaction is in progress, we ensure we keep you posted on the progress of your paper. We also get you connected to the provider for personalized service. Instead of stressing yourself out looking for financial instrument or company why not let professional like us deliver financial instrument to you within the time frame required by you.

Business News

Afriqiyah is seeking the return of its two A320-200s currently leased out to Lithuanian ACMI/charter specialist Small Planet Airlines, reports ch-aviation.

Arabian aerospace

5A-ONL, now LY-ONL, were dry-leased out to Small Planet in early 2015 to allow the Libyan carrier to continue service to the European Union (EU). When direct flights to the bloc were banned following the outbreak of the Second Libyan Civil War in 2014, the aircraft were kept with Small Planet Airlines.

The Libyan Ministry of Foreign Affairs of the Government of the Reconciliation Agreement has notified the Lithuanian Permanent Mission to the United Nations of Afriqiyah's intention to take back possession of the aircraft.

"Afriqiyah Airlines is no longer interested in renewing the lease for the above-mentioned aircraft, which ended in October 2017," said a report in a Libyan newspaper. "It, therefore, hopes to facilitate the return of the two aircraft to Libya and to cancel their registration with the Lithuanian Civil Aviation Authority."

The Libyans are asking Small Planet to pay the financial entitlements to which it is due in accordance with the contract between the parties. The funds are to be deposited into an account in Italy.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM
Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM

2 weeks ago

Business News

The first ever Libyan Robotic Championship was announced this weekend. Details are still sketch, but the event will involve Libyan participants building their own moving robots to compete for a championship prize.

Libya herald

It is presumed that the competition will be based on the lines of the famous British TV series Robot Wars.

Organizers have announced three categories for the competition:

The first is in the ‘’ball collection’’ category where robots must try to collect as many balls as possible within a set time.

The second is the ‘‘Sumo’’ where robots must try to push each other out of a certain area. The final category is what the organizers called the ‘’line following challenge’’, where robots must follow a predetermined line.

The organizers said that the event is aimed at encouraging free engineering and technical thinking in creativity by youth in a competitive atmosphere.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

Oil & Gas News

SINGAPORE (Reuters) - Oil prices reversed earlier falls on Friday as ongoing weakness in the U.S. dollar was seen supporting fuel consumption.

Reuters

Brent crude futures were at $70.40 per barrel at 0756 GMT, down 3 cents from their last close, after dropping as low as $70.07 earlier in the day.

U.S. West Texas Intermediate (WTI) crude futures were at $65.52 a barrel, up 1 cent from their previous close, recovering from a session-low of $64.91 a barrel.

Crude oil futures have received support from a weakening dollar, which on Friday hit fresh 2014 lows against a basket of other leading currencies.

As oil is traded in dollars, swings in the greenback can also impact oil demand as it affects the price of fuel purchases for countries using other currencies.

“The weakening of the U.S. dollar against a basket of global currencies ... has positioned 2018 to lead off with strong levels of oil demand,” said BMI Research.

Despite this, crude prices were prevented from further rises by a seasonally weakening demand outlook.

Georgi Slavov, head of research at commodities brokerage Marex Spectron, said despite a generally healthy outlook for oil demand, there were short-term headwinds due to the upcoming end of the peak-demand period during the northern hemisphere winter season.

Many refiners shut down after winter for maintenance, resulting in lower orders for crude, their most important feedstock.

“Demand is starting to weaken as ... refining capacity was taken out of the market,” Slavov said.

U.S. bank Jefferies said “a fairly heavy maintenance season” was starting in the United States, adding there was also upcoming “scheduled maintenance in the Middle East (including the 400,000 barrels per day Aramco Jubail refinery).”

This is reflecting in oil inventories.

“Global oil stocks built overall in the week ending Jan. 19, as both crude and product stocks saw small builds,” U.S. bank Morgan Stanley said.

On the supply side, U.S. oil production is expected to hit 10 million bpd soon, after reaching 9.88 million bpd last week.

Output has grown by more than 17 percent since mid-2016 and is now on par with top exporter Saudi Arabia‘s.

Only Russia produces more, averaging 10.98 million bpd in 2017.

Rising U.S. output threatens to undermine the supply restraint led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia, aimed at propping up prices.

The cuts, coupled with demand growth, have contributed to a near 60 percent rise in oil prices since mid-2017 as excess crude inventories have been drawn down.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

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SIVAJOTHI GNANATHEEVAM

2 weeks ago

Business News

Libya was one of the most watched producing countries in 2017, as reviving production meant it was considered one of the countries most likely to undermine industry-wide efforts to tackle bloated inventory levels.

Tanker shipping

However, when it signed up on 30 November to the accord to extend the OPEC-led production cut deal to the end of 2018, it agreed to cap production at 1M b/d, instantaneously removing itself as a candidate for the 2018 most-watched list. Instead, following further militant action to disrupt production in December, the primary question that will follow Libya in 2018 is whether it can sustain production at its new target level.

Having started the year with output down at less than 0.7M b/d, and fallen as low as 0.55M b/d in April, it was able to rebuild production to 1M b/d by July. However, despite plans to increase production to 1.2M b/d, production growth stalled in H2 2017 with output sustained in the range 0.88 to 0.97M b/d. In December production fell to 0.92M b/d, the lowest since August, primarily as the result of militant activities. On 26 December, a Libyan pipeline was blown up by terrorists. The blast, about 130 km (80 miles) south of the Es Sider terminal, cut output by between 70,000 and 100,000 b/d, according to NOC. In January, Libyan output is expected to recover to close to 1M b/d following repairs to the Es Sider pipeline and the restart of the Agoco operated fields.

The chart above shows the strength of the recovery in Libyan crude oil production as measured by the revival in exports last year. By Q4 2017, exports averaged close to 0.8M b/d, up from 0.45M b/d in Q4 2016 – although still well down on 2012 when exports averaged 1.3M b/d. We estimate that exports were equivalent to 81% of production in 2017.

Using AIS vessel movements data, we are able to build a comprehensive picture of Libyan exports by destination region that is at least three months more up-to-date than a similar profile generated from customs trade data. Our analysis reveals, that while exports to Asia revived quicker than for any other region in the H1 2017, the story was different in the second half of the year with southern Europe taking over as the primary growth market. Our vessel movements analysis also allows us to capture additional trade within the Mediterranean not captured by customs data sources – including to countries of the eastern Mediterranean.

Our AIS vessel movements analysis also allows us to reveal the distribution of tankers servicing the Libyan export market by vessel size. Aframax tankers are the work horses of the Libyan export trade accounting for 50% of total exports last year. Smaller tankers accounted for 29% of volumes during this period, while Suezmaxes (21%) made up the remainder. Despite being the least important tanker sector of the three classifications used here, there are signs that Suezmaxes are becoming more important to this trade as they accounted for 38% of total liftings in December.

Libyan crude oil export terminals are spread along its entire Mediterranean coastline. Around 40% of exports in 2017 were shipped through the western ports of Az Zawiya (28%) and Zuwarah (12%), while 20% went through the eastern port of Marsa el-Hariga. Adjabiya (12%), situated centrally along the coastline, was the next most important export port. A further seven ports provided the remaining 29% of liftings.

The above is an extract from the latest quarterly medium-term outlook for the tanker market from Richardson Lawrie Associates Ltd (RLA), a firm of international maritime economists and business consultants. More information can be found at www.richardsonlawrie.com.

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2 weeks ago

Business News

Libya’s state energy producer National Oil Corp. announced the restart of production at Wintershall AG’s Sara oil fields more than two months after they were closed by protests, in the latest sign that the OPEC nation’s oil industry may be stabilizing.

Bloomberg

The fields will increase the North African country’s crude output by 57,000 barrels a day, according to an NOC statement on Sunday. Wintershall confirmed that crude output at the fields resumed on Jan. 21, according to an emailed statement from the company on Monday.

The shutdown since November resulted in the loss of 4.4 million barrels of production at a cost to the economy of $281.5 million, NOC said in the statement. The municipality of Jikharra had decided to reopen the area following pressure from NOC and the public prosecution, it said. The fields, located in the Jikharra area, were closed in early November due to protests by people demanding jobs and more local development projects.

Since the 2011 war that ousted former leader Muammar Qaddafi, Libya has been carved up among dozens of militias, with rival administrations in the east and in Tripoli. Infighting since 2014 crippled the production and exports of oil, Libya’s main source of income, devastating the import-dependent economy. Oil output has since been increasing and reached last year its highest level in four years. Output has stabilized at about 1 million barrels a day over the last quarter, hampered only by isolated disputes and shutdowns.
Crude Exports

NOC Chairman Mustafa Sanalla said the restart in Jikharra was a setback for a parallel Libyan oil administration based in eastern Libya, which for several years had tried to gain control over the country’s central and eastern oil facilities and export the crude independently. It failed to do so as major international oil companies only recognize the Tripoli-based NOC.

“The perpetrators and others considering using the tactic should remember this is a very serious offense for which there is no statute of limitations,” Sanalla said.

NOC board member Abulgasem Shingheer met with a Wintershall official to discuss resstoring production to normal levels, the NOC said in another statement on its website Monday.

The restoration of Libyan oil despite the country’s divisions has put the spotlight on Sanalla, whose influence has waxed in a country dependent on oil exports. In another sign the sector is stabilizing, Royal Dutch Shell Plc and BP Plc have agreed to annual deals to buy Libyan crude.

Production remains well below the level of 1.6 million barrels a day reached before the revolt in 2011, however, and efforts to increase output and exports are complicated by Libya’s commitment to an OPEC campaign to reduce a global surplus.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

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3 weeks ago

Business News

The UNDP has confirmed that it has installed solar panels for back-up power in 15 different hospitals across Libya as well as one municipality building between 2016 and 2017. It plans to install more in other hospitals and public facilities such as schools and municipal buildings in 2018 – subject to obtaining funding.

Libya herald

What is UNDP doing in Libya?

As the United Nations global development network advocating for sustainable development and inclusive economic growth, one of our main priorities in Libya is to help the authorities to provide basic services to citizens across the country. The intensification of the conflict since 2014 caused critical infrastructure damage, disrupting basic services such as water, sanitation and electricity supply. We are addressing these issues and at the same time bridging the critical period of transition from humanitarian relief to sustainable development. People need water; however, we are not providing them just with water but with an entire water operating system; People need electricity; however, we are not just providing them with generators but also with a clean alternative, solar energy. In this way, we are responding to the urgent needs of the people and providing a long term and sustainable solution.

Why is UNDP installing solar panels?

Nowadays, many people are aware that renewable energy, specifically solar energy, is an efficient alternative source of power which reduce the carbon footprint and can help a country to insulate from price fluctuations in global energy markets.

UNDP’s goal in Libya is to support the authorities to improve access to basic services through ensuring constant and cost-effective access to electricity, while also mitigating the impact of climate change and advancing multiple Sustainable Development Goals.

We don’t hear that much about Libyan energy sources outside of oil and gas, however there is a strong potential for solar power in Libya. More than 88% of its territory is desert, the country has long hours of sunshine and its proximal to the Tropic of Cancer which ensures great solar radiation. This solar energy solution decreases the public buildings reliance on the devastated national grid ensuring a continuous -and easy to maintain – source of electricity. This off-grid solution is working 24hrs a day connected to the Grid in Emergency cases (Cloudy periods) if needed. The system can be described in two main sub-systems, the production of electricity using solar panels & Energy storage using some high capacity batteries.

If this system is introduced widely in Libya, it can contribute to the reduction of carbon emissions, providing a long term and sustainable solution, while addressing the imperative needs of the people.

Between 2016 and 2017, UNDP provided solar panels to 15 hospitals and one municipality building.

Why in hospitals?

Libya has been witnessing major power disruptions which left many hospitals in the dark literally. Health facilities need power to operate life-saving medical devices. When there is not electricity in clinics, maternity wards, operating rooms, medical warehouses and laboratories, lives are at risk. The primary objective of UNDP’s support to hospitals is lifesaving, which can be achieved introducing clean and environment friendly technology during this critical time for Libya. With the installation of solar systems in health facilities we are providing more patients with access to medical care through a stable, clean and reliable energy supply. Our aim is to help save lives and using solar panels for the health sector is proving to be a very smart choice. Renewable energy is a means by which health systems can increase resilience to the challenges presented by climate change. The installation of solar systems will reduce greenhouse gas emissions and will lower power bills. The saved money could be used to support other health priorities. If we manage to scale up this system to more and more hospitals in Libya, we will be helping to save lives through a sustainable system.

Why is this important now?

During the crises in Libya, UNDP decided to harness this clean energy and install solar energy in health facilities to give power supply continuity in a time that health facilities are facing power interruption during critical surgical operations, as well as heating needs and refrigerating critical medicines. Due to the conflict, now people are facing challenges to access to health services. It is now when they need a swift response and with the solar systems we are providing both a swift and a long-term solution.

What has it been done so far?

The need for support to hospitals came in response to the UN humanitarian assessment of 2016, which showed the disruption of electricity as a major concern in Libya affecting many sectors, including the health sector. We started to install solar system in hospitals in August 2016 and currently, 15 hospitals are benefiting from the solar panel support, four are in Tripoli, four in Benghazi, three in Zintan, two in Ubari, one in Rujban, south-west of Tripoli, and one in Sebha, a city in southern part of Libya. Out of 19 small health centers located in the city, Sebha’s hospital is the main health center which services neighboring towns too. But there are more hospitals and public buildings that need this system. With more funding, we could scale up this programme to provide support to more people.

What you have achieved already?

Patients using these hospitals have now access to uninterrupted health services. The capacity for each hospital is between 15 and 20 KVA and the system is modular and can be upgraded to tens of times of its capacity, if the needed space for the upgrade is available, whether on the roof or on a ground fields. Meanwhile, other system components can be upgraded as well, like the batteries bank and Inverters.

What needs to be done still?

So far, the funding covers 15 hospitals though the needs are much bigger for hospitals to fully function their critical units. If more funding is made available, UNDP Libya hopes to install solar power panels in other hospitals and public facilities such as schools and municipal buildings.

What are the main challenges that UNDP is facing?

We faced some logistical challenges, especially in places like Benghazi, a war-ton city. However, the hospital personnel were very thrilled to have this new energy system. Even though, some of them did not know about it before, they were all very excited about this initiative and they were engaged in the process since the beginning.

How are the solar panels helping the people in Libya?

UNDP has been informed by doctors that power used to go off during surgical procedures and they had to stop the operation until the generator was turned on and this was putting at risk the patient’s life. However, since the solar panel were installed, they are continuing the medical procedures without interruption. They also mentioned that equipment such as ventilators and anesthetic machine that were at risk of damage due to the power cut, are now safe.

For example, during the blackout of power grids in all major cities of Libya, the ICU unit in Abusleem hospital in Tripoli was fully functioning using solar energy. They were using the direct solar power during the day and during the night the system switched to the power stored in the high-capacity batteries, so there was no cut whatsoever.

The system is not only providing them with a sustainable long-term energy solution, but is also helping them financially because the electricity bill will be reduced thanks to the solar grid.

Solar system in health facilities can also help Libya to achieve some of the Sustainable Development Goals such as good health and well-being, affordable and clean energy, climate action and partnership. It can also make a significant contribution to the 2030 Agenda for Sustainable Development and its commitment to ‘leave no one behind.

With more funding, we will scale up this programme to answer critical needs of more people in Libya through a long term and sustainable system.

What are UNDP plans for 2018?

Scaling up the programme all over Libya, the Solar Energy Investment aims at achieving complete coverage of the electricity requirements for 20% of Primary Health Care Health Facilities in Libya and 83% of hospitals for emergency wards, operating theatres, delivery rooms, pharmacies and laboratory services as well as coverage of close to 200 other health facilities such as NCDC branches, dialysis centres, dental clinics, etc. This would greatly improve both the access to and the quality of health services while reducing the operational costs.

Between 2016 and 2017, under The United Nations Central Emergency Response Fund (CERF) and the Stabilization Facility for Libya (SFL), UNDP installed solar panels in Tripoli at Abu-sleem Hospital, Ali Omar Askar Neuro, Cordoba Center for Services, and Tripoli Heart Center; in Sebha Hospital; in Benghazi at Al-Kwefia Hospital, Al Gwarsha clinic and Dermatology Hospital and in Kikla Municipality.

The solar systems in Zintan General Hospital, Rujban Hospital, Zintan Emergency and Surgery center, Ubari General Hospital, Ubari General Hospital Dialysis department and Zintan Obstetrics and Gynecology Hospital were installed under the umbrella of the National Oil Corporation sustainable development program, funded by Repsol and implemented by UNDP.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

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SIVAJOTHI GNANATHEEVAM

3 weeks ago

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

For further details contact us with the below information....

Contact : Mr. SIVAJOTHI GNANATHEEVAM
Email: leasingmandate@gmail.com

SIVAJOTHI GNANATHEEVAM

3 weeks ago

Oil & Gas News

LONDON (Reuters) - Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency (IEA) said on Friday.

Reuters

Debt and infrastructure problems cut Venezuela’s December output to 1.61 million barrels per day (bpd), somewhere near a 30-year low. That helped oil prices top $70 (50.30 pounds) per barrel in early January, their highest level in 3 years.

“The general perception that the market has been tightening is clearly the overriding factor and, within this overall picture, there is mounting concern about Venezuela’s production,” the IEA, which coordinates energy policy in industrialised nations, said in its monthly report.

“Given Venezuela’s astonishing debt and deteriorating oil network, it is possible that declines this year will be even steeper... U.S. financial sanctions are also making it tougher for Venezuela’s oil sector to operate,” the IEA said.

As a result of lower Venezuelan production, the IEA said OPEC’s crude output in December fell to 32.23 million bpd, boosting the group’s compliance with a deal to curb output to 129 percent.

In addition to Venezuela, December saw production problems in the North Sea, which helped cut global December oil supply to 97.7 million bpd, down 405,000 bpd from November.

Commercial stocks in industrialised countries declined for the fourth consecutive month in November and likely fell again in December, the IEA said.

OPEC agreed to lower production in 2017 and has agreed to maintain output cuts for the whole of 2018 to help bring the those stocks down to a 5-year average.

The IEA said that if OPEC and its non-OPEC allies maintained good compliance with the output deal, oil markets would balance in 2018.

“Global crude oil markets saw an exceptionally tight 4Q17,” the IEA said, adding that it saw a combined fall of 1 million bpd during that period on declining stocks in industrialised nations and a fall in Chinese balances.
U.S. OVERTAKING SAUDI

The recovery in oil prices and a decline in global oil stocks has been helped by robust global demand growth in 2017 but it will slow down in 2018, the IEA said.

It kept its oil demand growth estimate for 2018 unchanged at 1.3 million bpd, down from 1.6 million bpd in 2017, mainly due to the impact of higher oil prices and changing patterns of oil use in China.

Besides slowing demand, a spectacular rise in U.S. output is expected to keep oil prices under pressure, the IEA said.

The IEA said that rapid U.S. growth and gains in Canada and Brazil will drive up non-OPEC supply by 1.7 million bpd in 2018, versus last year’s 0.7 million bpd increase. Non-OPEC nations will be producing just short of 60 million bpd this year.

The IEA said short-cycle U.S. production was reacting to rising oil prices and therefore it raised its forecast for U.S. crude oil growth for 2018 to 1.1 million bpd from 870,000 bpd in its previous report.

“This represents, after the downturn in 2016 and the steady recovery in 2017, a return to the heady days of 2013-2015 when U.S.-led growth averaged 1.9 million bpd,” the IEA said.

We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease and Purchase, The provider is tested and trusted. We have been dealing with the company for the past 6years. Interested Agent/Lessee should contact us for directives.If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business we have all available.

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3 weeks ago

Contract News

Eng. Mustafa Sanalla, NOC Chairman of the Board, Dr. Abdelmomen Weld Qadour Chairman and General Manager of Sonatrach Company and Mr. John W. Wallace Chairman and CEO of DeGolyer and MacNaughton (D & M) Company signed the joint reservoir study of Al Wafa Gas Field and Al Rar Gas Field of Algeria on Monday 15 January 2018.

NOC

In the presence of Mr. Abulgasem Shingheer Member of the Board of Directors for Exploration & Production, Mr. Jaweed Ben Sharif General Manager of Production and Development at Sonatrach in addition to a number of engineers from NOC, Sonatrach and Mellita Oil & Gas.

The study aims at updating the previous study that was conducted in 2008. It comes within the framework of the mutual cooperation between NOC and Sonatrach in terms of the development programs of each party fairly.

It is worth mentioning that Al Wafa Gas Field, operated by Mellita Oil & Gas, started production in 2004. It supplies gas to Al Ruwais Power Plant in Baten Aljabal district and the costal system for providing the power plants with natural gas.

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